Jack Wills is set to receive millions of pounds of equity from a new shareholder, which would be used to accelerate its expansion, it has been reported.
Under the deal being discussed, Bluegem, owner of London department store Liberty, may replace private equity firm Inflexion as a minority investor in Jack Wills, Sky News reported. The brand’s board is due to meet today and an announcement on the decision is expected soon afterwards.
Inflexion holds a 27% stake in Jack Wills, while its founder and chief executive Peter Williams owns 52% of the business.
Sky News has also reported that Lord Davies, who has been chairman of Jack Wills since March 2014, is expected to hand over the reins to an unnamed successor, enabling him to focus on his other boardroom roles.
Jack Wills declined to comment.